Greenfield Capital Partners Invests $5 Million in BioTrackTHC
BETHESDA, Md., Oct 05, 2015 (BUSINESS WIRE) — Greenfield Capital Partners today announced it has made its first foray into the legal cannabis industry. Greenfield invested $5 million into BioTrackTHC (‘BioTrack’), a Fort Lauderdale, FL based company that provides cutting-edge seed-to-sale tracking software for the legal cannabis industry.
BioTrack’s technology offers a robust business intelligence platform for the cannabis industry including an Enterprise System and a Traceability System. The Enterprise System provides operators with cultivation tracking; management of inventory, patients and point-of-sale; and easy accounting reporting. The Enterprise System is currently used by over 1,200 customers across 18 states and 3 countries. BioTrack’s Traceability System enables government agencies to track every gram of cannabis throughout the entire production lifecycle, from cultivation, harvest and cure, quality assurance testing, transportation, destruction, and sale. The system provides real-time reporting to assist government agencies with enforcing regulations, collecting taxes and preventing the illegal sale of cannabis.
During the last two years, BioTrack has established itself as one of the leaders in the cannabis software market. The company was awarded contracts with the states of New York, Washington, New Mexico and Illinois as well as with the cannabis regulatory bodies in Uruguay and Jamaica.
Greenfield Capital is making investments across the entire value-chain of the legal cannabis industry with a focus on the infrastructure supporting the market. BioTrack’s industry leading position is expected to provide Greenfield with valuable information that will inform its investment process and help to drive value for other portfolio companies.
About Greenfield Capital Partners
Greenfield Capital Partners is a Maryland based private equity fund that is a thought leader and value driver in the legal cannabis industry. Greenfield’s team has decades operational, direct investment and strategy formation experience that is unrivaled in the legal cannabis industry. Greenfield will use this experience along with its cannabis industry expertise to guide strategy and accelerate growth in all of its portfolio companies. For more information please visit http://www.greenfieldcapitallp.com
BioTrackTHC is a division of Bio-Tech Medical Software, Inc., a Florida based company, with offices in Denver, Colorado, and Washington State whose team members boast over 50 combined years in the medical industry. The company’s vast level of knowledge offers a significant edge in the cannabis market.
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SOURCE: Greenfield Capital Partners